Abbott India Q3 net up 18% at Rs 45.19 cr

Company posted net profit of Rs 38 crore for the July- Sept quarter of the previous fiscal

Drug firm Abbott India Ltd today reported 17.89% increase in net profit at Rs 45.19 crore for the third quarter ended September 30, 2013-14.

It had posted net profit of Rs 38.33 crore for the July- September quarter of the previous fiscal, 2012-13, Abbott India said in a BSE filing.

Net sales of the company stood at Rs 444.73 crore in Q3, 2013-14, up 9.45% as against Rs 406.3 crore in the year-ago period.

Overall expenses during the quarter stood at Rs 395.56 crore, an increase of 7.89% compared with Rs 366.61 crore in the corresponding period last year.

The company, a subsidiary of Abbott Laboratories, has presence in various therapeutic categories such as women's healthcare, gastroenterology, neurology, thyroid and diabetes.

The Mumbai-based firm, which follows January-December financial year, said its board has decided to change the accounting year from December 31, 2014 to March 31.

Shares of Abbott India were trading at at Rs 1,438.75 per scrip in the afternoon trade on the BSE, up 6.24% from their previous close.